Kite Realty Group Trust (NYSE:KRG) to Issue $0.25 Quarterly Dividend

Kite Realty Group Trust (NYSE:KRG) declared a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Stockholders of record on Tuesday, July 9th will be paid a dividend of 0.25 per share by the real estate investment trust on Tuesday, July 16th. This represents a $1.00 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Tuesday, July 9th.

Kite Realty Group Trust has raised its dividend by an average of 33.7% annually over the last three years and has increased its dividend every year for the last 3 years. Kite Realty Group Trust has a dividend payout ratio of 416.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Kite Realty Group Trust to earn $2.12 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 47.2%.

Kite Realty Group Trust Trading Down 1.7 %

Shares of Kite Realty Group Trust stock traded down $0.38 on Wednesday, hitting $21.42. The stock had a trading volume of 2,464,805 shares, compared to its average volume of 1,877,261. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.79. Kite Realty Group Trust has a one year low of $19.16 and a one year high of $24.26. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 97.32, a PEG ratio of 3.12 and a beta of 1.29. The stock’s 50-day simple moving average is $21.03 and its two-hundred day simple moving average is $21.42.

Analysts Set New Price Targets

KRG has been the subject of a number of research analyst reports. StockNews.com raised Kite Realty Group Trust from a “sell” rating to a “hold” rating in a research note on Thursday, February 22nd. Jefferies Financial Group raised Kite Realty Group Trust from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.00.

About Kite Realty Group Trust

Kite Realty Group Trust (NYSE: KRG) is a real estate investment trust (REIT) headquartered in Indianapolis, IN that is one of the largest publicly traded owners and operators of open-air shopping centers and mixed-use assets. The Company's primarily grocery-anchored portfolio is located in high-growth Sun Belt and select strategic gateway markets.